O trade ideas
NIce R/R Crossing the 200 dma, 50dma right below, possible breakout of falling wedge nice divi. Good R/R entry here.
Long term position on O.It's posible on Realty Income (O), we have a Gartley, idealyt the PRZ should be at the 0.786 price , but it didn't reach the 0.886 -at least today-,and it is very near to an AB=CB. The stop loss to me would be the X point for the Gartley or the minimum of Nov '16, 52.78. I'm long from 54.61 with a Target1 of 1/3 of lot on 57.57, my intention is let rest of position for income dividends. Moreover it looks a nice ending diagonal being going on. Let's to see how next week develops.
O - Two long trade possibilities up to $72.00O is forming a descending wedge on the 1W with support at $54.00 corresponding to a 0.618 fib level, with an overall bullish trend since 2009. Price could bounce from either the 0.618 at $54.00 or the 0.786 at $49.00 (less likely, I think), before moving up to resistance at $72.00. If you're aggressive you could buy on a good signal that price is bouncing from one of these support levels, or, for the more conservative, wait for the breakout.
OREALTY INCOME CORP still over priced in my opinion. If price returns to the bottom of its price channel I will be looking into buying some shares.
Ascending Triangle Credit Spread Entered O with Jan17 55/50 Credit Spread for net premium of .78.
Spread entered instead of naked put for account leverage.
Break even - 54.22
Stop - 52.41
R:R 2:1
Plan A: Receive .78 credit (ROI: 18.5%)
Plan B: Get put shares, hold stock for monthly dividend. Exit all at 58.26.
Plan C: If the ascending trend line fails to support stock I will look to exit aggressively on the retest.
***Note*** O has gotten hit pretty hard but pays a monthly dividend and just increased it. I do not might owning shares down at this level
SHORT (Sell) $O at $59.58SHORT (Sell) $O at $59.58
TARGET 1 Price: 54.09 Profit: 9.2%
Cover/Trailing Cover: 61.30 Loss: 2.9%
